Santa Cruz County Market Update – March 2023

Mar. ‘23

Santa Cruz County Market Update – March 2023


Below are the Santa Cruz County Market Statistics for March ’23. Here are the highlights:

  • Active Inventory increased by 12.3% from February ’23 to March ‘23. Active Inventory is up 19.2% from March ’22.
  • The median SFH sales price for March was $1.19M, down 1.7% from the month prior. March ’23 median home price is down 25.6% from March ’22.
  • Number of Sales increased by 65.5% from February ’23 but is down 31.4% from March ’22.
  • Days on Market in March ’22 was 16. Days on Market in March ’23 was 45.
  • March was an interesting month for Santa Cruz Real Estate. Comparing last year to this one shows just how much the market has changed. March 2022 was essentially the peak of the frenzied COVID market. Since then we have seen a normalization in the form of decreased sales, lower prices, and longer DOM.

The storms that essentially paused Santa Cruz Real Estate sales in January and February should have led to a massive influx of activity in March. While buyers got the memo, sellers did not. The 143 SFH new listings in March was the lowest number of new listings for March in the MLS data set (going back to 2009). Only one other year during that timeframe has the new listings number dipped below 200 (2020- 177). This is to say, we have a supply issue that will be exasperated when mortgage rates decrease. Once that occurs, it seems the inevitable result is increased prices.

Contact Us

Contact Us

I am interested in:

Skip to content